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L&T Construction bags orders worth Rs 2,440 cr

Buy Larsen & Toubro, target Rs 1400: Shabbir Kayyumi

The ADX line is tilting downward from 40 levels. A positive divergence also formed on stochastic. All these technical parameters are suggesting some fresh up move from the current level, says Shabbir Kayyumi of Narnolia Financial Advisors.

Engineering major Larsen and Toubro (L&T) today said its subsidiary L&T Construction has bagged orders worth Rs 2,440 crore in the domestic market.

"The power transmission and distribution business of L&T Construction has bagged EPC orders worth Rs 2,440 crore," L&T said in a BSE filing.

L&T said it has received an order under Saubhagya scheme for electrification works in urban and rural areas, augmentation of 33/11kV substations and replacement of conductors with aerial bunched cables.

It has also secured an order from the Department of Disaster Management for the construction of underground power cable network on turnkey basis in the eastern region of India.

Other projects include building grid-connected rooftop solar plants in government buildings under the Alo Shree' scheme and supply, erection, testing and commissioning of 400kV double circuit transmission lines on turnkey basis in the southern region of India.